SOLUTION: "MATHEMATICS OF INVESTMENT"
Find the PRINCIPAL and TIME. The only given is the TOTAL AMOUNT AND RATE.
TOTAL AMOUNT = 1,770
RATE = 9% OR 0.09
PRINCIPAL = ?
TIME = ?
PLEA
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-> SOLUTION: "MATHEMATICS OF INVESTMENT"
Find the PRINCIPAL and TIME. The only given is the TOTAL AMOUNT AND RATE.
TOTAL AMOUNT = 1,770
RATE = 9% OR 0.09
PRINCIPAL = ?
TIME = ?
PLEA
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Question 1053943: "MATHEMATICS OF INVESTMENT"
Find the PRINCIPAL and TIME. The only given is the TOTAL AMOUNT AND RATE.
TOTAL AMOUNT = 1,770
RATE = 9% OR 0.09
PRINCIPAL = ?
TIME = ?
PLEASE HELP ME. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Find the PRINCIPAL and TIME. The only given is the TOTAL AMOUNT AND RATE.
TOTAL AMOUNT = 1,770
RATE = 9% OR 0.09
PRINCIPAL = ?
TIME = ?
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A(t) = P(1 + r*t)
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1770 = P(1 + 0.09*t)
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If t = 1, P = 1770/1.09 = $1623.85
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Cheers,
Stan H.
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